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Results of Placing

14 Nov 2018 15:40

RNS Number : 3834H
Science in Sport PLC
14 November 2018
 

THIS ANNOUNCEMENT, INCLUDING THE APPENDICES AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.

 

SCIENCE IN SPORT PLC

("SiS" or the "Company")

 Results of Placing

Science in Sport plc (AIM: SIS), a UK-headquartered market leading endurance sports nutrition company that develops, manufactures and markets sports nutrition products for elite athletes and sports enthusiasts, is pleased to announce the completion of the Placing announced earlier today.

A total of 48,394,666 Placing Shares have been placed by Liberum at a price of 60 pence per Placing Share to raise gross proceeds of approximately £29.0 million.

The Placing Shares will represent, in aggregate, approximately 39.7 per cent. of the Enlarged Share Capital. The Placing Price represents a discount of 14.3 per cent. to the closing middle market price of 70 pence per Ordinary Share on 13 November 2018 (being the latest practicable date prior to the announcement of the Placing issued by the Company at 7.00 a.m. this morning).

The net proceeds of the Placing (after the deduction of costs and expenses relating to the Placing) will be used by the Company to fund the majority of the cash Consideration payable to the PhD Seller on Completion pursuant to the Acquisition Agreement.

Subject to the passing of the Resolutions at the General Meeting which was also announced earlier today, settlement and admission to trading on AIM of the Placing Shares is expected to occur on 4 December 2018.

The Company expects to send a circular to Shareholders tomorrow in order to convene the General Meeting to be held at 10.00 a.m. on 3 December 2018 at the offices of the Company at 2nd Floor, 16-18 Hatton Garden, Farringdon, London EC1N 8AT.

Capitalised terms used in this announcement but not defined herein shall have the meaning set out in the Definitions section of the announcement issued by the Company at 7.00 a.m. this morning.

For further information:

 

Science in Sport plc

+44 (0) 20 7400 3700

Stephen Moon, CEO

Elizabeth Lake, Finance Director

 

Liberum - NOMAD and Broker

+44 (0) 20 3100 2000

Clayton Bush

Chris Clarke

James Greenwood

 

Instinctif Partners

+44 (0) 20 7457 2834

Matthew Smallwood

Tom Berger

 

About Science in Sport plc

Science in Sport plc is a leading sports nutrition company that develops, manufactures and markets sports nutrition products for professional athletes and sports enthusiasts. SiS is a strong brand in the elite athlete community - in the 2016 Rio Olympics, 34 medal-winning athletes or teams used SiS products.

The SiS core product ranges include: SiS GO, comprising energy powders, isotonic gels, energy bars, hydration tablets and shots; SiS REGO, including protein-based recovery powders; SiS Protein, products specifically designed to contribute to athletes' lean muscle mass growth and maintenance; SiS Supplements, comprising BCAA Perform, Creatine, Beta Alanine and L Glutamine; SiS Athlete Health, vitamins and supplements range designed to support and maintain immune function, digestive health and bone health. SiS products are sold in a range of retail channels, including specialist sport retailers, major grocers, high street retailers and e-commerce websites.

SiS is currently the official sports nutrition supplier to professional cycling organisations Team SKY, British Cycling, Cycling Australia, and USA Cycling. SiS is also a partner to British Triathlon and Rock n Roll Marathon Series. Along with supplying over 70 professional English & Scottish League football teams, SiS Sports Nutrition is the partner to the world's most popular football club, Manchester United FC. In addition, Olympians Sir Chris Hoy MBE, Mark Cavendish MBE and Adam Peaty MBE are Brand Ambassadors.

SiS was founded in 1992 and is headquartered in Hatton Garden, London. Its manufacturing facility is in Nelson, Lancashire.

SiS shares are traded on the AIM market of the London Stock Exchange under the ticker symbol SIS.

For further information, please visit www.scienceinsport.com

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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